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Posts in category 'News'

Coldwell Banker Tomlinson Blog

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January Market Report

February 19th, 2024 by Coldwell Banker Tomlinson

From Our Friends At Boise Regional REALTORS^®

ADA COUNTY

MEDIAN SALES PRICE —

Jan was the lowest single-family home MSP we've seen since Mar 2023.
Resale saw a minor increase of $500 while new construction faced a $15k reduction in sold price compared to Dec 2023.

HOMES SOLD —

There was a greater balance between resale and new build sales in Jan with a 93-home gap (compared to Dec's 112 home gap).
Resale's +1.8% YOY change was the first positive rebound for sales in 21 months.

PENDING SALES —

Pending sales leaped to the highest number of new contracts since Jun 2023, an uptick of 132 signings compared to Dec.
New build pending sales have trended upward three months in a row.

INVENTORY —

Inventory shrank to its lowest threshold for single-family homes in 20 months with resale home options slimming by nearly 140 listings compared to Jan 2023, down by 70 homes from Dec 2023.

DAYS ON MARKET —

New construction accelerated from 59 days in Dec 2023 to 56 days in Jan, the only sector with quicker month-over-month speeds.
With an MSI of 1.0 months, resale may benefit from a reprieve in market heat.

A MESSAGE FROM BRR'S PRESIDENT —

"Positive year-over-year trends in the median sales price show a shiny outlook on homeownership. Even as some aspects of the market fluctuate, the value of owning a home remains steadfast."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —

The single-family home MSP dipped below the $400k threshold for the second time in the past 9 months.
Three homes sold under $200k in Jan while the lowest sold price in Dec was $240k, resulting in a MOM slip.

HOMES SOLD —

Home sales have trended below the 300-home mark since Oct 2023 but edged closer in Jan at 293 sales.
Resale and new builds shared a mostly equal boost at 22 (resale) and 19 (new) homes.

PENDING SALES —

Dec's bump in contracts helped feed Jan's closed sales but new contracts have since cooled.
New construction saw the only uptick in new signings.

INVENTORY —

Jan's overall inventory in Canyon County dwindled to the smallest selection we've seen since May 2023. ▪
Existing/resale options are the most limited they've been since Apr 2022.

DAYS ON MARKET —

In addition to the increase in number of sales in Jan, the speed in which they went under contract also heated for all sectors.
New construction's market times were nearly cut in half compared to Jan 2023.

A MESSAGE FROM BRR'S PRESIDENT —

"Canyon County's market warmed this month, particularly pinching availability and affordability for resale homes. Having a REALTOR® on your side will help consumers navigate competitive markets."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News

February
5

Making a Difference: Coldwell Banker Tomlinson's Charitable Impact in Washington & Idaho

February 5th, 2024 by Coldwell Banker Tomlinson

We're thrilled to unveil our 2023 charitable giving video! Click here to watch.

At Coldwell Banker Tomlinson, our mission to lead people home goes beyond real estate transactions. It's about making a positive impact in the communities we proudly serve.

In 2023, our agents and staff proudly contributed $386,600 and dedicated 2,300 volunteer hours to communities across Washington and Idaho. This brings our total charitable contributions to over $1.25 million since 2020.

We're honored to serve vibrant real estate markets like Spokane, Boise, Meridian, Idaho Falls, and the Quad Cities (including Pullman, Lewiston & Clarkston, and Moscow). These are more than just places...

Click Here to Read More...

Categories: News

Tags: Coldwell Banker Tomlinson

February
1

4 Financial Resolutions You Can Actually Keep

February 1st, 2024 by Coldwell Banker Tomlinson

It's that time of year again — the time where you choose a slew of financial resolutions, keep them up for a few weeks … and inevitably drop them before March. Rinse and repeat.

If you're ready to break the Resolution Cycle of Doom, you should know one key strategy for sticking to resolutions: Pick the easiest, least glamorous goals first. Then you can use that momentum to tackle bigger ones down the line.

Of course, that's easier said than done. Use these simple (and impactful) resolutions to get started, and you'll hit your money milestones before you know it!

Review Your Finances

The beginning of the year is ideal for taking...

Click Here to Read More...

Categories: News

January
22

December 2023 Market Report

January 22nd, 2024 by Coldwell Banker Tomlinson

From Our Friends At Boise Regional REALTORS^®

ADA COUNTY

MEDIAN SALES PRICE —

A home built in 2019 sold for $3.7M in Dec 2023, positively weighing the year-over-year scales.
We haven't seen the MSP dip below $517K since Dec 2022 — a $13K decrease compared to Nov 2023.

HOMES SOLD —

Recent slow-downs in pending contracts caught up to sales in Dec 2023, slipping in all three sectors year-over-year.
New construction activity was the only group to experience monthly increases.

PENDING SALES —

Dec marked the first month-over-month spike in pending activity since May.
In addition to higher sales, new construction saw the biggest bump in signed contracts in Dec 2023.

INVENTORY —

Inventory dwindled across the board this month, leaving Ada County at a deficit for demand which is evident in this month's MSI.
Just three months ago (Sep), we were at nearly double the current inventory for resale.

DAYS ON MARKET —

Market speeds remain faster compared to last year but have cooled month-over-month since Jun.
Homes that sold for $200-$400K sold at an average of 30 days versus 41 days for $1M+ homes.

A MESSAGE FROM BRR'S PRESIDENT —

"This month's changes in Median Sales Price have shown the impact that higher-dollar sales can have on the market's perception. Knowing what is selling and when can help us see a clearer picture of what the market is doing."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

CANYON COUNTY

MEDIAN SALES PRICE —

Single-family homes sold for approximately $11K more than Nov 2023 with 7 homes selling for more than $1M.
Homes below the MSP ($200K-$400K) sold an average of 20 days than those above ($400K-$600K).

HOMES SOLD —

While pending sales were up, closed sales snoozed in Dec.
This has been the third consecutive month of cooler sales numbers which seems contradictory when reviewing MSP trends for the month.

PENDING SALES —

Closed sales can expect to heat up a bit soon after this month's uptick in pending contracts.
This month was the first increase YOY and MOM for resale contracts in 4 months.

INVENTORY —

Inventory took a nearly 100-home hit in Dec 2023, bringing the MSI down from 2.3 to 2.1.
Resale homes remain hungry for new listings, sitting at only 1.6 months of supply.

DAYS ON MARKET —

Dec's slight bog in market times may provide a much-needed pressure release from pending sale heat and demand.
New construction slowed the most, waiting nearly 20 days longer than the month before.

A MESSAGE FROM BRR'S PRESIDENT —

"December's numbers in Canyon County prove that winter isn't always the slowest of the months. Living situations, relocations, and family dynamics change throughout all seasons, creating market opportunities year-round."

~Elizabeth Hume, Boise Regional REALTORS® 2024 President

To view the Treasure Valley homes currently for sale, CLICK HERE

Categories: News

December
15

November Market Report

December 15th, 2023 by Coldwell Banker Tomlinson

From Our Friends At Boise Regional REALTORS^®

ADA COUNTY

MEDIAN SALES PRICE —

Pickings remained slimmer this month, resulting in higher sales prices compared to last year, but the MSP still eased from Oct 2023.
Higher mortgage rates in early Nov may have catalyzed lower prices for the month.

HOMES SOLD —

This year's seasonal slow-down from Oct to Nov was less abrupt than 2022 where we saw a steeper bog.
For example, new homes saw 11 less sales since last month; there were 45 fewer closings from Oct 2022 to Nov 2022.

PENDING SALES —

For the first time in 31 months, pending contracts experienced its first summit over the previous year.
Paired with shrinking gaps in YOY data for sales, market hunger is keeping warm.

INVENTORY —

Inventory had been on a slow incline since Jun 2023, only to revert this month.
Existing/resale saw the greatest shrink in options, slipping from 825 available properties to 656.

DAYS ON MARKET —

DOM for single-family homes decreased slightly by 4 days compared to Oct.
In Nov, the homes that sold for less than $500k spent an average of 13 fewer days on market than those that sold for more.

A MESSAGE FROM BRR'S PRESIDENT —

"We are interested to see how the market responds to mortgage rates dropping nearly 0.75% since early November and what affect that may have on sales prices and Days on Market next month."

~Debbi Myers, Boise Regional REALTORS® 2023 President

CANYON COUNTY

MEDIAN SALES PRICE —

The price gap between new construction and existing homes has continued to diminish. In Nov 2022, the difference was approximately $120k but now sits at approximately $31k.

HOMES SOLD —

New construction took the reins on home sales in Nov, bumping up from 141 sales in Oct 2023 and 129 sales in Nov 2022.
Resale's contracts and closings cooled compared to last month and last year.

PENDING SALES —

New construction accounted for a significant portion of this month's pending sales — 71.2% of the overall pot.
Oct 2023 marks the 20th month of YOY pending sale declines (since Feb 2022).

INVENTORY —

While there was a dip in inventory for all sectors aside from new construction, the MSI (below) remained the same compared to last month, showing supply and demand remained steady.

DAYS ON MARKET —

This month was another historically speedier month when juxtaposed against the previous year. For example, single-family homes spent an average of 17 less Days on Market than in Nov 2022.

A MESSAGE FROM BRR'S PRESIDENT —

"We're seeing months' supply of inventory at play with the price divide between new construction and resale. As existing home supply struggles to keep up (MSI 1.7) and new construction makes headway (MSI 3.0), the sectors' prices are reflecting the balancing act."

~Debbi Myers, Boise Regional REALTORS® 2023 President

To view the Treasure Valley homes currently for sale, CLICK HERE